Consider an economy that produces only pineapples. In Year 1, the quantity produced is 3 pineapples and the price is…

Consider an economy that produces only pineapples. In Year 1, the quantity produced is 3 pineapples and the price is $4. In Year 2, the quantity produced is 4 pineapples and the price is $5. In Year 3, the quantity produced is 5 pineapples and the price is $6. Year 2 is the base year.